Fed's Williams Sees Tariff-Driven Inflation Fading In Coming Months— But Warns Of New Pressures

New York Federal Reserve ​President John Williams projected that the effect of tariffs could phase out from the inflation rate in the coming quarters.
The impact of tariffs, mainly shouldered by domestic producers and consumers, has “not yet fully played out,” said Williams in his remarks at the Cynosure Group Spring Symposium in New York City on Monday. 
Furthermore, the Middle East conflict is pushing up oil and input costs, leading to higher prices for fuel, airfares, groceries, fertilizers, packaging, and other consumer goods, he said.
However, Williams anticipates the pass-through of existing tariffs to prices to be largely completed in the forthcoming months, leading to a fading effect on the inflation rate. He projected a new wave of tariffs in the near future, though, which would